My take is that after this CPI report, a December rate hike is all but certain. If you’re holding crypto, it’s safer to size your positions as if the hike is coming.
The U.S. Bureau of Labor Statistics announced on November 10 that October CPI rose 0.4% month over month, versus expectations of 0.3%. Core CPI, excluding food and energy, rose 0.3%, versus expectations of 0.2%—marking the third consecutive month at 0.3%. The year-over-year figures weren’t released this time because data wasn’t collected during last year’s government shutdown, but it’s already clear that inflation hasn’t turned back down.
U.S. stocks have had other news supporting them over the past couple of days. Bitcoin hasn’t. The F&G index is still at 26, in the fear zone, and capital is clearly fleeing first from the least-supported corner of the risk-asset market.
Before the rate hike becomes official, I’d rather dial leverage down a notch and hold a little less spot than bet on a rebound.
#CPI #美联储 $BTC
The U.S. Bureau of Labor Statistics announced on November 10 that October CPI rose 0.4% month over month, versus expectations of 0.3%. Core CPI, excluding food and energy, rose 0.3%, versus expectations of 0.2%—marking the third consecutive month at 0.3%. The year-over-year figures weren’t released this time because data wasn’t collected during last year’s government shutdown, but it’s already clear that inflation hasn’t turned back down.
U.S. stocks have had other news supporting them over the past couple of days. Bitcoin hasn’t. The F&G index is still at 26, in the fear zone, and capital is clearly fleeing first from the least-supported corner of the risk-asset market.
Before the rate hike becomes official, I’d rather dial leverage down a notch and hold a little less spot than bet on a rebound.
#CPI #美联储 $BTC